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TORONTO, May 3, 2011 /CNW/ - Starfield Resources Inc. (TSX: SRU)("Starfield", "the Company") today announced that its financial results for the fourth quarter and year ended
February 28, 2011 have been filed on SEDAR.
For the three and 12-month periods ended February 28, 2011, Starfield
incurred costs for exploration and related equipment totaling $0.5
million and $3.9 million, respectively. The expenditures in the fourth
quarter were directed toward property maintenance and assay from this
year's drilling program. Administrative expenditures amounted to $0.7
million and $2.0 million for the three and 12 months ended February 28,
During the quarter ended February 28, 2011, as previously reported,
Starfield raised $5.1 million through private placements, and at
February 28, 2011, the Company had approximately $3.9 million of cash
The annual audited financial statements, management's discussion and
analysis and additional information are available on the Company's
website and on SEDAR.
Starfield Resources Inc. is an advanced exploration and development
stage company. The Company's primary asset is its Ferguson Lake
nickel-copper-cobalt-platinum-palladium property in Nunavut, Canada.
Additional assets include a nickel-copper-cobalt-PGE-chrome project in
the Stillwater district of Montana with historic copper, nickel,
chromite resources (non 43-101 and not to be relied on); the Moonlight
copper project in California with significant NI 43-101 copper
resources; and two gold properties currently leased/joint ventured in
Starfield has also funded the development of a novel, environmentally
friendly and energy efficient hydrometallurgical flow sheet to recover
metals from massive sulphides.
This news release may contain certain information that constitutes
forward-looking statements. Forward-looking statements are frequently
characterized by words such as "plan," "expect," "project," "intend,"
"believe," "anticipate" and other similar words, or statements that
certain events or conditions "may" or "will" occur. Forward-looking
statements are based on the opinions and estimates of management at the
date the statements are made, and are subject to a variety of risks and
uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the
forward-looking statements. These factors include the inherent risks
involved in the exploration and development of mineral properties, the
uncertainties involved in interpreting drilling results and other
geological data, fluctuating metal prices and other factors described
above and in the Company's most recent annual information form under
the heading "Risk Factors" which has been filed electronically by means
of the Canadian Securities Administrators' website located at www.sedar.com. The Company disclaims any obligation to update or revise any
forward-looking statements if circumstances or management's estimates
or opinions should change. The reader is cautioned not to place undue
reliance on forward-looking statements.
SOURCE Starfield Resources Inc.
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